You can uninstall dracut if you like, but you won't be able to generate a new initramfs file (so you won't be able to update kernels).

Not quite true. When you get a new kernel through yum update it pulls in dracut and plymouth as dependencies. So you can update the kernel and then just remove dracut and plymouth again if you like. That's what I do, it works for me.

Still seems a little bass-ackwards that dracut depends on plymouth. I realize dracut may want include include plymouth and its libs in an initramfs by default - but it *should* be able to proceed without it.